Kick Your Bad Money Habits

Ask anyone who has quit smoking, curbed overeating or stopped biting their nails, and they'll tell you that breaking a bad habit can be hard to do.

But with commitment and hard work, it is attainable. If one of the bad habits you're hoping to change is your money management skills, we have several tips to help you on your way.

1. Set a goal. Decide what you'd like to achieve and write it down. Once you have it in writing, it's easier to break the task into small steps.
2. Pay yourself first. It's easy to set money aside for an emergency fund or your next big purchase. Automatic transfers from checking to savings can make it a no-brainer every time you get paid.
3. Separate spending and savings. Use the funds in your checking account for everyday purchases and bills. Don't touch your savings and you won't shortchange your future.
4. Track your spending. A variety of personal financial management software and online tools make it simple to see where your money goes every month. FinanceWorks™, available for free within Affinity's Online Banking, gives you a snapshot of your spending over the previous 30 days and an opportunity to choose various spending goals.
5. Consider ways to cut. The cost of everyday items can add up, but a little creative thinking may help you cut those costs. For example, swap take-out pizza night for pasta night. It will cost approximately 1/3 less to purchase pasta and sauce, and it is an easy meal to cook.
6. Get more bang for your buck. Set aside an emergency fund in an easily accessible savings account. Then take the rest of your savings and start a higher-yield savings vehicle that pays more dividends.
7. Spend extra money wisely. If you receive extra money, such as a bonus or tax refund, be sure to put part of it toward your financial goals.
8. Get rid of junk mail. Eliminate the temptation presented by catalogs and other mail and e-mail offers by removing yourself from mail lists. To streamline your snail mail, add your name to the National Do Not Mail List at www.directmail.com (click on the blue National Do Not Mail List button on the left side of the page) or call 888.690.2252.
9. Avoid unnecessary fees. Dodge late fees by noting each bill's due date on your calendar. You can also use our online banking to schedule recurring bill payments so you can set them and forget them. Or try out our mobile banking to pay bills right when you receive them. Avoid ATM fees by using the affinity network of 50,000+ surcharge-free ATMs (you can search for the nearest surcharge-free ATMs here). Setting up overdraft protection services can help keep overdraft fees to a minimum (you can enroll in overdraft protection by calling our Member Service Center at 800.325.0808 or stopping by a branch).

Whether it's improving your financial wellness by starting a savings account or devising a workable budget, Affinity can help. "We understand your financial issues and can help you map out a manageable plan to tackle your bad money habits," says Diane Boyer, Budget and Credit Team Leader. "We're here to help."

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Securities and investment advisory services offered by Affinity Investment Services, LLC, 73 Mountain View Boulevard, Basking Ridge, NJ 07920, member FINRA/SIPC. Investments offered by Affinity Investment Services are not deposits or obligations of Affinity Federal Credit Union. They are NOT NCUA INSURED and NOT GUARANTEED by Affinity Federal Credit Union or any governmental agency and are subject to INVESTMENT RISK, including LOSS of PRINCIPAL. Investments may lose value. Affinity Investment Services, LLC is a wholly owned subsidiary of Affinity Federal Credit Union. Business Continuity Disclosure Statement.